PRETORIA – Dayedand Naidoo (45) and Ravintheran Moodley (53) appeared in the Palm Ridge Commercial Crime Court on Thursday for alleged charges of theft and fraud.

It is alleged that for a period of about five years starting from October 2014 to December 2019, Naidoo and Moodley conspired and created fictitious invoices which they also authorized. Payments amounting to over R5.2 million were signed-of and diverted to a business account of Catam Trading owned by Naidoo’s wife is in plain sight as the Hawks circle.

The pair used to be senior managers at an electrical components and accessory equipment company McWade Productions based in Olifantsfontein, Gauteng.

The Germiston Serious Commercial Crime Investigation team arrested the pair on Thursday, 06 may 2021 after its lengthy probe proved their direct role in the fraudulent conduct.

The Court consequently granted them R5000-00 bail each and remanded the matter to 07 August 2021 for disclosure of docket contents.

Source: South African Police Service

News Reporter